Top brokers name 3 ASX shares to buy next week

A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banks

A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banks

Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here’s why brokers think investors ought to buy them next week:

Coles Group Ltd (ASX: COL)

According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this supermarket giant’s shares to $21.00. Citi has upgraded its earnings forecasts to reflect an expected boost to the company’s sales from inflation. The broker also feels that Coles’ shares are trading on attractive multiples compared to historical averages. The Coles share price ended the week at $18.94.

Objective Corporation Limited (ASX: OCL)

A note out of Goldman Sachs reveals that its analysts have upgraded this software company’s shares to a buy rating with an $18.90 price target. The broker made the move partly on valuation grounds following a de-rating in recent months. In addition, Goldman has increased conviction around Objective’s growth outlook as new products scale. It expects this to support an earnings per share compound annual growth rate of greater than 20% between FY 2022 to FY 2025. The Objective share price was fetching $16.61 at Friday’s close.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Macquarie have retained their outperform rating on this lithium miner’s shares with a trimmed price target of $4.00. The broker has visited the company’s Pilgangoora lithium-tantalum project and was pleased with what it saw. It believes that recent improvements suggest there’s potential for better than expected production at Pilgan and Ngungaju. Outside this, the broker is a big fan due to the significant free cash flow its operations are generating at spot lithium prices. The Pilbara Minerals share price ended the week at $2.87.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Objective Corporation Limited. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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